Due to liquidity pressure and deteriorating financial conditions, the group has significantly reduced its workforce by about 30% each year over the past two years. The low levels of cash and cash equivalents held by the group are being used to maintain its basic operation activities. Given the low and insufficient funding levels, the group has been unable to retain several services, including but not limited to its auditors and other relevant professional advisors to carry out the year-end audit work for the year ending December 31, 2024, thus failing to publish the annual results according to the timetable required by the listing rules.